§ 109-F — Expenses of administration

§ 109-f. Expenses of administration. The expense of administering the\nfund shall be paid out of the fund. Prior to the first days of January,\nApril, July and October there shall be submitted to the director of the\nbudget for approval an estimated budget of expenditures for the\nsucceeding three months. There may not be expended for the purpose of\nadministering the fund more than the amounts as authorized by the\ndirector of the budget. The superintendent of financial services shall\nserve as administrator of the fund without additional compensation, but\nmay be allowed and paid from the fund expenses incurred in the\nperformance of his duties in connection with the fund. The compensation\nof those persons employed by the superintendent of financial services,\nwithin the amounts approved by the director of the budget, shall be\ndeemed administration expense payable from the fund. The superintendent\nof financial services shall include in his annual report to the\nlegislature a statement of the expense of administering the fund for the\npreceding year.\n